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Volume 18 - Number 20

September 28, 2018

Watt Defends Against Harassment Allegations During HFSC Hearing

Lawmakers who scheduled a hearing about a month ago to discuss oversight of the Federal Housing Finance Agency instead found themselves questioning FHFA Director Mel Watt about sexual harassment claims by one of his employees. During the day-long House Financial Services Committee hearing, which included his accuser Simone Grimes, FHFA Inspector General Laura Wertheimer, and the GSE CEOs, Watt fought back against the allegations. He painted his relationship with Grimes as a mentor/mentee-type interaction and questioned the committee’s decision to even allow Grimes to use that forum when she has a lawsuit pending. But Rep. Maxine Waters, D-CA, who admitted to having a close friendship with Watt, said, “It’s a new...

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Poll

Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.

35%

The wholesale/table funder. They’re taking the financial risk.

30%

The broker, but only for the first year. After that, the borrower is fair game.

13%

Hard to answer. It’s a complicated issue.

22%